PwC comments: Effective date deferral of CECL, hedging, and leases
PwC comments on FASB proposal to defer effective dates for CECL, Hedging and Leases, and to change philosophy on effective dates for major standards.
Overview
The FASB recently proposed a deferral of the effective dates for several major accounting standards, including CECL, Hedging and Leases. The proposal establishes new effective dates for certain entities for each of those standards and creates a framework for future standard setting with two “buckets.” They are (1) SEC filers other than smaller reporting companies (SRCs), as defined by the SEC) and (2) all other companies, including SRCs.
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